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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (388)	1/8/1998 8:04:00 AM
From: Teddy	Read Replies (2) \| Respond to of 18691

RE:"I'm getting ready to short S. Korea" Can anyone comfirm this? Message 3121260 Yeah, QCOM looks like a good short.

To: craig crawford who wrote (388)	1/8/1998 8:58:00 AM
From: Rick Slemmer	Read Replies (1) \| Respond to of 18691

Craig: Isn't QCOM famous for it's Korean exposure? I'm getting ready to short S. Korea Geez, a whole country? <g> Yup, although QCOM came to my atttention through TA. If it breaks below 42, I'll short it (although I won't mention that on the cocktail circuit - it's tantamount to treason in San Diego). RS

To: craig crawford who wrote (388)	1/8/1998 6:09:00 PM
From: Ben Graham	Read Replies (2) \| Respond to of 18691

In investing in emerging markets I have tried to follow John Templeton's advice to "buy when there is blood in the streets." There is definitely blood flowing in South Korea, Indonesia and others now. I feel strongly we are beginning a historic buying opportunity in these markets. Buying into such situations to me goes hand in hand with shorting the high fliers. I sold all my emerging market positions last summer but have buying the past week. Currently have 2 percent of assets in EMs, plan to go to 5 over next several weeks. Here's what I'm buying: MALAYSIA, SINGAPORE - WEBS are probably the best ways to play these countries - EWM, EWS INDONESIA - was avoiding until today, but now market has totally capitulated - bought TLK ( at 5 5/8 down from 30 in August), considering GRL INDIA - JFI, IFN RUSSIA - RNE HONG KONG/CHINA - Avoiding for now, I don't think we've seen the big break here yet, will buy TDF, TCH later KOREA - difficult to play ( no WEBS, closed-end funds at 55 percent premium) have bought KF, PKX and waiting for closed-end premium to narrow. MULTI-COUNTRY - Several asian closed-ends trade at discounts to NAV (GRR, APF, SAF). African and South American funds have also moved to large discounts (buying AFF, LAM) If you want a short play in South Korea, I suggest shorting the closed-ends and buying a basket of SK stocks as the premium should eventually disappear. August was the time to short Asia, now is the time to begin buying.